What the hell is happening to VeChain volume. Every day at the EXACT same time volume drops significantly

but that means he'll definitely make it moon on rebranding

That's really interesting, and I'm not being facetious.
Those are artificial volume waves being generated by whales trading to themselves, and are an extremely obvious indicator of massive manipulation going on.
You would need to control more than 50% of the total ven in circulation to create waves like that.

I wonder if there could possibly be an explanation other than a single massive entity doing this on purpose.

he'll dump on you after the "buy the rumour"

exactly this.

What is this fuckery, anons?

Bump for answers

It's volume instantly drops by almost 40% at the end of each day, and I do mean instantly. I went through the other top 20 coins and couldn't find another erc20 token with this behavior.

yeah maybe that too

i'd wager trading bots are being used to manipulate the price through waves of gradually increasing/decreasing volume. no idea why they've decided to cut it at that exact time every single day though, you'd think they'd mask their intentions a little bit.

This may have something to do with the Lbank exchange.

It is the outlier in this scenario, and is an exchange with the majority of its volume as VEN. It also accounts for about 30% of daily VEN volume worldwide. It appears to be a chinese exchange.

The other coin of significant volume on this exchange shows some small volume spikes as well, but nothing quite like VEN.

VEN is still low market cap (compare to fluffed coins like ADA & EOS).

In my experience in crypto the last year, if there is massive manipulation going on, you buy. This is going to moon, just like the Ripple, Tron, Verge, and Stellar scams.
Still DCA'ing 20 more VEN every day from my ETH stack.

To the guy who thinks whales need to own 50% of VEN to perform this kind of manipulation: NO! not at all. Not even 1% of VEN is being traded actuvely plus you can use 0.001% of the total supply and keep moving it to even exceed your own market cap in a day in volume, if you so desired.

Yes, there is no actual reason why such a complex high volume bot would 'reset' daily. I think it may have more to do with how an exchange holding a huge amount of VEN behaves, and reports its daily volume.

See

Lbank volume accounts for about 30% of daily VEN volume, which is about the same amount of instant correction we see from these spikes.

I'm not saying it isn't weird, because it is fucking weird, but its the only correlation I have seen at a glance.

Some wall street fuckery going on.

Qtum doesn't show any similarity and its the other big lbank coin and is 20% of qtum's volume

Yes it does, it has sharp volume spikes and dips at the turn of the day. Move in to 7 day chart. Not the 30% spike that VEN has, but they are obviously there.

Lbank is 15-20% of its volume.

How is this not obvious, every time the volume dies the price lowers, sometimes by a little sometimes a lot. Some one is artificially keeping the price high

Is this volume buying or selling, are they trying to keep the price down or move it up?

In fact if you move the 7 day chart back through January, you can see that QTUM shows very similar volume wave pattern compared to VEN, when it was more popular. Look at 24 Jan - 30 Jan for example.

A very similar volume drop off at the end of the day.

My conclusion for now is that Lbank volume reporting resets at the end of the day for some reason. There is probably manipulation going on as well, but there is no reason why a bot would shut down and reset like that, in an obvious manner.

ARE YOU GUYS SERIOUSLY BRAINLETSS? why don't you look at what time that correlates to in CHINA?????

So how do we exploit this pattern?

Easy explanation: The time of the volume spikes matches the time when VeChain is dropping most of their announcements (afternoon in Europe).

Might be, but why is this so typical for VEN but not for other chinese coins.

>is this volume buying or selling

To test the LBank theory, someone should try advertise one of the lower cap coins to LBank users. This would cause LBank to have a higher portion of trade volume of that coin, and if the theory is correct, we should start seeing the midnight volume drop pattern in that coin.

So far we only have 2 data points to validate this theory; VeChain and QTUM. Both exhibit a drop in trade volume at Chinese midnight in proportion to LBank's share of trade volume of each coin.

>My conclusion for now is that Lbank volume reporting resets at the end of the day for some reason.
I believe this is a correct answer.
I saw Lbank's VEN volume on cmc fluctuating between 4m and 40m.
You can probably see the same pattern on Qtum, but on the lower scale, because Lbank's volume is smaller than total percentage wise comparing to VEN

its not resetting only though, if so youd see a sharp break and it'd go back to the amount before the reset. its like resetting and lowering the volume abruptly and then slowly building it back up.

The essential difference between Vechain and Walton is the layer at which the blockchain is implemented. Walton has patents on the txID-reading RFID chips with memory, which allows the blockchain to be implemented in the foundational level through the RFIDs. They are world leaders in chip technology, and make their own chips. Vechain does not make their own chips. They outsource the hardware, and have the hardware made compatible with their blockchain via API. So their blockchain is implemented several layers up in the application layer, through business-centralized control. So, Vechain is inherently less decentralized and less secure.

This is the essential difference, and it's not a deal-breaker for Vechain, but it is a fact, and it does matter. Walton is somewhat ironically better at authentication than Vechain for this reason, despite Vechain's original main use-case as an anti-counterfeiting product (they've since expanded their use-case into cold logistics and other areas).

But there are other advantages to making your own chips. Vechain is using someone else's hardware and then repurposing it for their blockchain. Walton has built the chip from the ground up to be compatible with the blockchain and improved the standard chip to be much more advanced, with encryption, fine minute movement detection, anti-collision logic to prevent skipping, low voltage technology so the chips can last more than 20 years, and other advancements over standard chips. Making their own chips also makes them cheaper. Standard RFIDs are 15 to 20 cents. Walton's are less than 5.

Volume waves only look that way on cmc?? Not other tracking sites.. why is that?

Might just be another API bug or CMC issue?

you guys haven't realized this board is constantly raided by chinese groups?
Vechain was fucking unheard of before it was pumped by them.

it happens at 0900 utc which is 5pm in chinese time. they go home after botting up the volume all day.

these chinese bots make up 25% to 50% of the volume, it must be the owners of Vechain making it look bigger than it really is.

LMAO @ your bags

It happens at 00:00 chinese time